Russia is the next big thing
Shortly after Toyota started producing cars in Russia, French car manufacturer Peugeot Citroen has announced plans to build its first factory in Russia.
Slated as one of Europe's fastest expanding markets, the new plant will be located in the town of Kaluga, southwest of Moscow.
Peugeot Citroen will begin assembling vehicles in Kaluga by 2010 and plans to sell 100,000 vehicles for that year and three times that number annually in subsequent years.
Many global firms build their cars in Russian plants to avoid heavy import duties for the Russian market.
Some 2 million new cars were sold in Russia this year, but analysts say low levels of ownership mean that there is room for rapid growth in demand.
Credits: Jarvis
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